Organised labour and the Nigeria Employers’ Consultative Association (NECA) have firmly rejected proposed amendments to the Nigeria Social Insurance Trust Fund Act.
Labour, led by Joe Ajaero of the Nigeria Labour Congress, joined NECA to oppose the amendments during a Senate public hearing on Monday in Lagos.
Both groups voiced strong objections to the bill and urged its immediate withdrawal, calling instead for Tripartite consultations involving government, employers, and workers.
They described the bill as inconsistent with international standards and harmful to the sustainable governance of the fund.
The organisations insisted the amendments would not strengthen the NSITF as claimed by the bill’s sponsors.
They warned that the changes could expose the fund to legal, administrative, and financial risks, thereby undermining its credibility and long-term stability.
Following the hearing, NECA’s director-general, Adewale-Smatt Oyerinde, restated the group’s deep concerns about the purpose and content of the bill.
“Our position remains that the foundation of this amendment is inconsistent with global best practice and key International Labour Organisation Conventions.
“Weakening tripartite representation and centralising financial control in one office is a recipe for chaos in the social insurance system,” Mr Oyerinde added.
He noted that NECA supported meaningful reforms but warned that changes must not erode institutional integrity or exclude key stakeholders from governance.
“We are not opposed to reforms; however, they must strengthen institutions, enhance transparency and safeguard the fund’s long-term sustainability.
“We therefore urge the Senate to withdraw this bill and return it to proper tripartite consultation without delay,” Mr Oyerinde said.
He also urged the National Assembly to permit a comprehensive tripartite review of the NSITF and ECA Acts before drafting any new legislation.
Mr Oyerinde said a new bill should emerge from that process to create a holistic and effective national social security system.
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